The rise of external asset managers has created a need for specialist tools, such as platforms tailored for managing portfolios, investments, trading, and risk management. Below, you will find a comprehensive breakdown of the key features of the best IT platforms for external asset managers.
Features and Benefits of Platforms for External Wealth Managers
In general, platforms for external wealth managers streamline operations and improve client service. Let’s get into exactly how these platforms support asset managers in managing complex portfolios and adapting to market changes.
Data Management and Security
A platform for external wealth managers needs to provide a wide range of features that integrate all of your data while at the same time ensuring that information is protected.
Data Integrations
Platforms for external data managers allow seamless connections to various data sources, such as market feeds, client reports, financial databases and portfolio performance for a unified view of client portfolio. This reduces manual data handling errors.
Data Marts
Data marts are centralized repositories designed to store specific sets of data. With these, asset managers can quickly access important and up-to-date information such as asset performance, historical trends, and transaction data.
Security Measures
Security is a top priority in asset management. Robust encryption, multi-factor authentication, isolated servers and role-based access controls protect sensitive client data from unauthorized access. These security protocols ensure compliance with industry regulations such as GDPR.
Advanced Tools for Decision-Making and Reporting
Just like every other up-to-date technology, asset management platforms are increasingly utilizing AI to enhance decision-making. Integrated reporting tools create customized reports and facilitate efficient collaboration across teams.
AI-Powered Tools
AI-powered tools analyze vast amounts of market data, client behavior, and asset performance to deliver predictive analytics and actionable recommendations.
Real-Time Decision Making
In fast-moving markets asset managers need to stay on top of things. The ability to monitor portfolio performance in real-time allows for swift adjustments based on market conditions and financial goals.
Reporting and Cross-Functional Communication
Reliable tools that streamline custom report creation are a must. Those tools also enable analysts, portfolio managers, and compliance officers to work together efficiently.
Lifecycle Management and Scalability
Tracking assets, handling growing data and streamlining inventory management are made easy by external asset management platforms.
Comprehensive Lifecycle Management
Managing the entire lifecycle of fixed assets—from acquisition to depreciation and disposal—is simplified with lifecycle management features. Asset managers can track asset performance over time, ensuring efficient capital allocation, timely reinvestment, and proper depreciation handling.
Scalability
Whether managing a small collection of assets or a diverse, global portfolio, asset management platforms need to adapt to increasing data and transaction volumes without compromising performance.
Portfolio and Workflow Management
These platforms also include tools for portfolio management, enabling asset managers to organize and monitor multiple investments. Workflow management tools help automate routine tasks for efficiency.
Conclusion
Look for asset management platforms that integrate advanced technology, security, and flexibility. Take into account the level of service and your management needs and you’ll find a platform tailored just for you!
